Hello and welcome back to another five minute Friday here on meaningful money how you been doing Something uncomfortable on this chair.

Oh, it's a copy of the Meaningful Money Handbook.

How did that get there?

Peatsbook.com, buy it if you haven't already,

review it on Amazon if you haven't already really helps.

Thanks so much.

Okay, I've had a question in from Carl and he's asking specifically about diversifying pensions.

He says, Pete, you talk a lot about consolidating pensions, but what about diversifying

a reducing risk that way? So I thought I'd address that. So as ever, let's put five minutes on the clock down here.

Let's say a quick thank you to my friends at 7M for sponsoring the show down here. Let's say a quick thank you to my friends at 7M for sponsoring the

show down here and let's crack on. So I've done a couple of videos about how

safe is your money when it's invested and I'll link to those below this one and also I think I might be able to do like a banner thing up here in the top left

No idea how to do that at this point. So we're all learning right? Carl is right. I do bang on a lot about

consolidation and part of that is because I'm a massive believer in

simplicity when it comes to your personal finances. The simpler things are the easier they are to stay on top of.

Many people amass half a dozen pensions with four

different providers and it can be difficult to know how much you've got where and

why. So consolidating, bringing all those pensions into one is a great way of simplifying things.

As long as you don't lose any important benefits by coming out of one of your existing plans,

so it's really important you know enough about your existing pensions before you decide to transfer out.

Consolidation sometimes reduces costs as well, even though pensions arguably as

cheap as they've ever been.

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